The mixed-use proposal that The JBG Companies has in mind for a site bounded by N Street NE, 1st Street NE, M Street NE and North Capitol Street (map) got the green light from the Board of Zoning Adjustment earlier this week. The Chevy Chase-based firm is proposing a development with residential units, office and retail space as well as a seven-screen movie theater on a site that currently consists of a surface parking lot and two office buildings.

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The residential portion of the new project would consist of a 12-story tower with a total of 210 units. The office component would be an 11-story tower with 382,000 square feet of space. A seven-screen movie theater with approximately 1,200 seats would be located below ground. Four levels of underground parking with a total of 245 spaces will be constructed. The retail on site would total approximately 28,000 square feet.

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Among the approved variances, the development team received an exception from the number of parking spaces required on-site. Based on the size of the proposed development, 419 parking spaces are required per Zoning requirements, and JBG pointed out that this would require excavating seven levels below ground.

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The new proposed development is just the latest project for JBG in this section of DC. The firm is also partnering with Boundary Companies on a 691-unit mixed-use development near the intersection of New York and Florida avenues NE.